PNM Resources, Inc. (NYSE:PNM – Get Rating) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,830,000 shares, an increase of 37.6% from the June 30th total of 3,510,000 shares. Based on an average trading volume of 619,000 shares, the short-interest ratio is currently 7.8 days. Approximately 5.7% of the company’s shares are short sold.
PNM Resources Trading Down 0.4 %
Shares of PNM opened at $48.27 on Monday. The firm’s 50-day moving average price is $46.97 and its 200-day moving average price is $46.41. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.65 and a beta of 0.44. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. PNM Resources has a 1-year low of $43.43 and a 1-year high of $50.11.
PNM Resources (NYSE:PNM – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. PNM Resources had a net margin of 10.68% and a return on equity of 10.38%. The business had revenue of $444.12 million for the quarter, compared to analyst estimates of $382.37 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. PNM Resources’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that PNM Resources will post 2.6 EPS for the current year.
Institutional Investors Weigh In On PNM Resources
Analyst Ratings Changes
Separately, Mizuho raised shares of PNM Resources from a “neutral” rating to a “buy” rating and cut their target price for the company from $53.00 to $52.00 in a research note on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, PNM Resources currently has a consensus rating of “Hold” and an average target price of $49.00.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.
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